Life Insurance for Military: Options for Life Insurance for Military Personnel

Life Insurance for Military: Options for Life Insurance for Military Personnel

In this video, I'm going to talk to you about what your options are for life insurance if you're in the military. So if you're in the military and looking for life insurance, you only have a couple of options. One is insurance through the SGLI. Through the SGLI, you can get instant issue coverage, guaranteed coverage, up to $400,000. The only downside with that insurance is that once you leave the military, you no longer have that insurance. You can typically convert that insurance, but your costs will typically go up, and you're going to get a much better price by getting an individual life insurance policy. So, what are your options for individual life insurance policies? Well, there are two companies out there, Prudential and MetLife, that will insure you if you're in active military, even if you have a deployment order. The only consideration is that you have to do a medical exam to qualify, and that you have to be in the U.S.

on U.S. soil to do the application and sign the delivery receipt documents. Other than that, that's it. So your best options, if you're looking for an individual life insurance policy, if you want to make sure that you have insurance for your family for when you leave the military, your best bet is to get the insurance while you're young and healthy with an individual life insurance policy. If you're looking for a quote, click the link below or visit our website, chooseterm.com, and we can help you with a life insurance quote. Thank you.

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What Is A Life Insurance and Group Of Life Insurance

It Is A Sort Of Life Insurance Strategy That Falls Into The Whole Insurance Class. It Offers Unadulterated Insurance. Fundamentally, It Covers The Threat Of Passing On. In This Arrangement, The Aggregate Guaranteed Sum That Your Back Up Plan Guarantees To Pay Would Be Given To The Chosen One Or Recipient As Expressed In The Strategy Report In Case Of Protected�s Demise. If You Get By In The Strategy Term Period, You At That Point Can Get Nothing Or Can Recover Your Top Notch Which Fundamentally Changes From Safety Net Provider To Insurer.If You Are Getting Ready To Purchase Unadulterated Life Insurance, At That Point Term Insurance Is The Best And Least Expensive Kind Of Extra Security Arrangements.

Complete life insurance:

Remaining Designs Which Go Under Life Insurance, For Example, Blessing Design, Cash Back Plans, ULIP, And So Forth Gives Scope To The Guaranteed To A Specific Age-Significantly 65 To 70 Years, While An Extremely Presence Design Gives Scope To Your Life. In This Arrangement, For The Most Part The Guaranteed Is Given A Decision To Pay For Lessened Sum Till The Predefined Time Which Will Be Otherwise Called Development Period. On The Off Chance That The Safeguarded Individual Achieves Development, At That Point He Or She Has The Decision To Keep Precisely The Same Till Death Without Paying Any Additional Premium And Encashing The Aggregate Guaranteed Or Rewards.

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Enrichment Plan:

Not At All Like Term Plan, Gift Design Pays You Out The Aggregate Guaranteed Joined With The Benefits In The Two Cases-Demise And Survival. This Arrangement Of Activity Charges A More Prominent Premium That Is Destined To Be Being Devoted To The Benefit Advertise Equity And Debt. A Gift Is A Use Of Life Insurance In That The Back Up Plan Guarantees To Cover The Single Amount Sum Amid The Season Of Development. Significantly Developments Are Ten, Fifteen Or Twenty Years Up To And Including Distinct Age Confine. A Few Designs Additionally Pay A Sum In Case Of Basic Disease. Blessings Sums Can Be Gotten The Money For Ahead Of Schedule And The Guaranteed Will Get The Surrender Esteem Which Might Be Resolved Premise To What Extent The Approach Has Been Running And Exactly What Amount Has Been Committed To It.

How to pay LIC premium through Paytm Step By Step In India

Now you can pay the insurance premium of all the life insurers through Paytm including LIC of India.  Let us know how to pay LIC insurance premium through Paytm Step By Step.


1. Paytm App

To pay you LIC policy premium open your Paytm app or visit the website of Paytm through the desktop. If you do not have the Paytm app on your mobile, you can download it from Google Play Store or Apple app store.

2. Choose insurance to pay your LIC premium

You will see different bill payment option at the homepage of the Paytm application. Choose Insurance Tab from these bill services. There is on more tab about insurance is available it is  Life Insurance, this tab is to buy new life insurance plan and not for payment of renewal premium of your old policy. Please see the screenshot below.

3. Click on LIC logo

After choosing Insurance, a new page will open. Here you will see Select your Insurer. Click on it and now you will able to see name and logo of all the insurance service providers. To pay the premium of LIC of India policy, simply click on the LIC logo.

 4. Enter your 9 digit LIC policy number

 When you click the LIC logo on the previous page, you will be redirected to the new page. Here you will see LIC of India written on top and you will see a place to provide your LIC policy number. Just type your 9 digits LIC policy number and click the Proceed Button provided below.

Read Alos Home Loan Protection Plan Vs Term Insurance Plan In India

5.Paytm will fetch your information from LIC server.

When you click Proceed, Paytm will fetch your premium-related information from LIC servers. On receiving your policy details it will be shown to you on screen. You will be able to see you Policy Number, Name of Policy Holder, Premium due date, Number of the installment due and amount to be paid (including tax). Please review all your policy details, if found right, click on Proceed to make payment.

6. Policy-related information will be displayed.

Next, you will see a deal page provided by Paytm and its affiliates. You can choose any deal at your will or can proceed without choosing any deals or offers.

7. Choose any offer (if you want) before proceeding for payment.

Next page will be related to payment. If you have sufficient balance in your Paytm wallet, simply pay your LIC premium using the wallet balance else pay through other available options like credit card, debit card, internet banking or ATM card.

8.Pay through any payment option

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After successful payment, you will see a confirmation page, showing a success message, the amount you paid, Paytm Oder Id and your LIC policy number for which you have paid the premium. If you want you can rate the experience your payment on this page also.

9. Payment Confirmation page 

You will receive a message on your mobile number and email Id associated with Paytm. LIC premium will take 2-3 days to reflect your payment.

10. Payment information through SMS

Benefits for LIC New Jeevan Anand Plans In India For Indian

If you are finding Benefits for LIC New Jeevan Anand Plans then read this article to know more about Jeevan Anand Plans Benefits in india.

1. Benefits:

Death benefit :

Provided all due premiums have been paid, the following death benefit shall be paid:

On Death during the policy term: Death benefit, defined as sum of Sum Assured on Death and vested Simple Revisionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.

The premiums mentioned above exclude service tax, extra premium and rider premiums, if any.

On death of policyholder at any time after policy term: Basic Sum Assured

Benefits payable at the end of Policy Term: 

Basic Sum Assured, along with vested Simple Revisionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

Participation in Profits :

The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Revisionary Bonuses declared as per the experience of the Corporation during policy term provided the policy is in full force.

Final (Additional) Bonus may also be declared under the plan in the year when the policy results into death claim during the policy term or due for the survival benefit payment provided the policy is in full force and has run for certain minimum term.

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2. Optional Benefit:

LIC�s Accidental Death and Disability Benefit Rider:

 LIC�s Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium during the policy term. In case of accidental death during the policy term, Accident Benefit Sum Assured will be payable as lump sum along with the death benefit under the basic plan. In case of accidental permanent disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly instalments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

Home Loan Protection Plan Vs Term Insurance Plan In India

If you are finding the best Home Loan Protection Plan & Term Insurance Plan in India, then this article is for you. Here, we will discuss two options, term insurance policy, and home loan insurance.

A loan insurance protection plan covers the balance amount to be paid in case of death of the borrower. The plan is specifically made for high-value mortgages. The premium rates are higher and depend on several factors including the loan amount, the age of the borrower, the medical history of the borrower and the loan tenure.
 
The loan insurance cover acts as a surety to the lenders. The loan cover is bundled with the loan amount. The borrower can either pay the initial premium himself or he can get it funded by the lender. The options come with different tax implications. If the borrower pays the premium, he will be eligible for tax deduction under Section 10(10D) and Section 80C. However, if it is paid by the lender and is included in the loan amount, the borrower will not get any claim deduction.

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The insurance provided by the loan cover will gradually reduce as the loan gets repaid. However, the insurance cover stays constant in a term plan. It will cover the outstanding home loan and will also meet the other financial requirements of the borrower�s family in case of unfortunate death.
 
The loan insurance is of little significance once the borrower has a prepaid loan. It is the same case when the sum assured declines with the time. It is the reason term plan should be considered for loan insurance.
 
Also, loan cover insurance is associated with a single premium option which implies that if the borrower prepays the loan amount, there will be no impact on insurance cover or premium. There will be other portability issues if borrowers want the loan to be refinanced by another lender.

A vanilla term insurance is a better alternative than a mortgage insurance policy. The term plans are cheaper and also provide high cover to the borrower.

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The financial planners suggest the individuals pick a term plan so as to cover the loan. However, there are other loan protection plans designed and offered by the insurance companies to take care of the outstanding home loans in the event of unforeseeable circumstances.

One of the most important dreams in a person�s life is to buy his or her home. To fulfill a dream, an individual takes a home loan which puts the house on mortgage. The home remains with the lender until the time buyer doesn�t pay the complete loan amount. However, it is important to safeguard the property so that in the event of an accident the home remains with the family. The motive is achieved by a term insurance policy or home loan insurance.

How To Select The Right Critical Illness Cover

How To Select The Right Critical Illness Cover: Critical illness insurance can provide you with a better cover for high-cost medical treatments. Here are some key points to be considered before buying this insurance which is fast becoming a modern-day necessity.

How To Select The Right Critical Illness Cover

Inflation, fast-improving medical facilities and cutting-edge treatment procedures also mean that the costs of treating critical illnesses are on the rise. More so, a few critical illnesses can clearly put an undue but unavoidable strain on your existing Health Insurance and can single-handedly exhaust your cover.

In contemporary times, ailments like cancer, cardiac and kidney or lung transplant etc. may cost up to Rs. 30 lakh or even more depending on the quality of the hospital and treatment procedures. Hence, if you have taken a health policy of Rs. 5 lakh or Rs. 10 lakh or even Rs. 20 Lakhs, you may face a liquidity crunch.

Critical illness insurance can guarantee you a better cover for high-cost treatments. Therefore, choosing the right critical illness cover is important for getting a wide-ranging cover.

Let us take a look at things you should keep in mind for buying the right critical illness insurance.

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Check What Is Covered In The Policy

Type of illness covered in critical policy varies from company to company. Some companies may cover 10 illnesses, whereas others may cover 20 illness or even more. Normally, a critical illness policy covers diseases like cancer, stroke, kidney ailment etc. You should assess your hereditary health profile to understand what type of ailments have a greater chance to affect you.

Also, look at your lifestyle and associated hazards to find out specific ailments from which you would require an insurance protection. The greater number of ailments covered by a policy could be a better choice, but it may cost you a higher amount in comparison to a policy that covers a less number of ailments.

The Need For Critical Illness Cover

Critical Illness (CI) Cover helps in meeting the expenses that are not covered by the Health Insurance Plan. Diagnosis of a serious illness could lead to a person losing his job or going on a leave without pay for a longer duration. In such a scenario, the sum assured under the Critical Illness cover can take care of both medical costs as well as daily expenses.

Depending on the company you opt for, Critical Illness can also cover the cost of alternative medical treatments, specialised doctors or overseas treatment. The CI cover has an edge over many health insurance policies as it can help you meet all your miscellaneous expenses like medical tests and check-ups.

Take Appropriate Cover Size

You should look at the specific ailments for which you are planning to buy critical illness insurance and accordingly decide the cover size. For example, if you are apprehensive that in the future you have a chance of having cardiac issues and it would cost around Rs. 15 lakh for the treatment and financial support to the family, then you should buy an insurance that provides at least the full amount cover.

It�s always advisable to slightly enhance the cover because the recovery may take longer and your family would need financial support during that period. Critical illness insurance gives the upfront amount once the ailment is detected, therefore, it becomes easier for the insured person to decide how he/she plans to get the treatment and how many funds he should allocate for the family�s support.

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Buy As Add-on/Rider With Insurance Policy Or Buy It Separately?

You have the option to buy a critical illness policy as a standalone product from an insurance company or you can buy it as a rider with your life or health policy provided that your insurance company allows it.

If you purchase it as a rider with your life policy, then the premium remains same throughout the policy period, but if you buy it separately from a general insurance company, then the policy price will be revised upwards as per the age slab.

As a rider since you may get only a certain percentage of your life cover as critical illness cover, you may fall short of your requirement if your life cover is not decent enough. If you buy a standalone critical illness insurance, then you can consider high cover policy depending on your requirement. Also, the standalone critical illness plan can give you more customised options in comparison to riders.

Always compare plans under both rider and standalone insurance and read the fine prints of what all it covers and the exclusion rules before you finalize the policy.

What Is Not Covered

It is also important to understand the exclusions under Critical Illness Plans. After the policy is bought, there is no coverage for 60 days (in some cases 30 days). It also doesn�t cover pre-existing diseases and overseas treatment. Dental treatment, birth control, sex change, hernia, cataract, gastric etc. are exempted from coverage.

Other Important Points

Critical Illness plans have a certain waiting period and once such period is over then only become eligible to get the risk cover. Normally, insurance companies ask for a waiting period of 90 days. Similarly, there is a survival clause attached to the critical illness policy which requires you to live through such survival period to get the claim amount. Normally survival period is 30 days by most companies.

Some insurance companies do not give a full insurance amount for certain ailments, instead, they allow cover with a sub-limit i.e. upper limit for the specific ailment. You should prefer insurance plan which has no sub-limit for any of the ailments.

While buying the critical plan, use the online comparison tool to find out the best policy which suits your requirement. Do not consider price as the sole criteria to decide the insurance plan, but also look at the service quality of the insurance company, claim settlement time and ratio, number of ailments covered, additional benefits and a plan with minimum survival period etc.

How To Choose The Right Term Insurance

How To Choose The Right Term Insurance Buying a term plan is the first step towards building a solid financial plan. So, here�s everything you need to know about Term Insurance.

Here Are The Some Tips On How To Choose The Right One:

Term Insurance is the most popular and important financial instrument amongst Indians. A Term Insurance is nothing but a type of life cover that provides coverage for a defined period of time, and if the insured expires during the term of the policy then death benefit is payable to the nominee. The amount of coverage is fixed and so is the tenure of the policy.

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Why Are Term Plans Popular?

The rising popularity lies in the fact that these term plans have among the lowest of premiums. The premiums are low because there is no investment element and the entire premium goes for covering the risk of life. So, there is no survival or maturity benefit once the policy term expires.

Finally�

Life Insurance cannot keep one alive forever, but it can certainly help one give financial protection to one�s family as well as meet one�s financial goals. It acts as a safety net and helps the family of the insured to maintain their standard of living and pay for important milestones after them. As Kim Hubbard rightly said, �Fun is like Life Insurance; the older you get, the more it costs�. It�s never too late, protect your family now.

How To Save For Short-term Goals

How To Save For Short-term Goals: It�s good to be ambitious and it�s great to have a fixed set of short-term goals in mind. They help you stay focused and also help establish financial security simultaneously. What�s better than making your dream come true and becoming financially secure at the same time?

All set to take over those short-term goals? Let�s begin!

Money lying idle? Put it to use.

If you have some free cash lying useless, you better put that to use. This doesn�t mean grabbing notes from the secret pile underneath your mattress. Actually, that too, but you also need to look out for other things that are just blocking your money. Not sure where? Unused gym memberships, guitar classes you never went to and all those unnecessary gadgets you never used are a part of it. If it�s a thing you never used (and most probably won�t use in future either), consider selling it off. Before you come up with new excuses, gym memberships can be sold off too. All set to free some cash? Let�s go!

Recurring Deposit to the rescue!

If you want to be a little systematic about the way you save, give Recurring Deposits a shot. They are a sure-shot way to ensure savings. How? A part of your money automatically keeps getting deducted from one of your bank accounts and keeps getting collected in the Recurring Deposit account. So, it�s like once you opt for a Recurring Deposit, you will save (even if you don�t want to). The thought of money getting deducted from your Savings Account every month sounds irritating? Don�t worry! One day, it�ll make you the happiest person on this planet! Till then, just focus on saving for your goals.

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List them down

Before beginning the ultimate game of reaching all those milestones, you need to decide what those milestones are. Duh! We insist you grab a pen and piece of paper and peek into your mind. Hold on! Don�t get lost in those dreams. Remember, the whole point of this exercise is to focus and prioritise your goals. Once you do that, you�ll know exactly where to begin. Differentiating between short-term and long-term goals might be a little difficult (considering you have a lot of dreams), but let�s take baby steps for now. Nothing is impossible, and you�ll surely turn all these dreams into reality one day. But for now, let�s focus on thinking about what we want to achieve in the coming future, shall we? Got your list ready? Great! Let�s proceed.

Invest according to your goals

Investing is the best way to ensure a solid financial future ahead. But before randomly signing up for any XYZ investment plan, you need to think about your immediate goals. Just because a certain investment plan makes sense for your friend, doesn�t mean it�s the best option for you too. Think clearly and plan according to your goals. For instance, if you�re planning to buy a car soon, investing in a long-term scheme might be the worst decision of your life. Not only will that block a lot of money for no reason, but will also stop you from achieving that immediate goal. You won�t want that to happen, will you? So, be smart and explore all options before narrowing down on something.

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These are some ways to save for that short-term goal. If you think that none of these will work in your case, you must consult a financial advisor. They can plan things according to your goal and give you saving solutions accordingly. No matter how small that dream is, you need to fund it, right? You need to save big (unless you have hidden treasures somewhere)!

So, go ahead and take that first step towards your dreams. Open a Recurring Deposit and start saving.

5 Ways to Avoid Life Insurance Claim Rejection

5 Ways to Avoid Life Insurance Claim Rejection: More often than not, getting claims honoured by life insurance companies is an uphill battle. There are so many clauses, conditions and exceptions in insurance policies today that people are expected to fall ill by contracting a specific disease under specific conditions at a specific time in the day and inform the insurer at a specific time through a specific channel, and only if you�re under a specific insurance plan. Failure to meet any of these conditions would result in no insurance benefit being paid out, and the company is legally allowed to tell your dependants to take a hike.

Most often, insurers rely on legal loopholes and clauses in their policy documents to avoid making payments of sums assured, but a surprisingly large number of times, the fault and blame belong to the customers themselves.

Here are seven things you as a customer can do to ensure that you always get paid what�s due to you by your life insurance provider.

1. Don�t conceal information.

   Literally, any bit of information you don�t (or forget to) tell the life insurance company which can have an impact on your health, or result in any medical condition that requires hospitalization or the payment of death benefit is considered as �concealment of information�. Any disease or ailment requiring you to make a life insurance claim will be tracked back and traced to anything in your application form that indicates that this disease or ailment was a possibility. Any pre-existing disease or condition or smoking/drinking habits or anything that can be linked as being a cause to your hospitalization or death will be investigated and, if you haven�t told the company about it, sum assured and other benefits will not be given to you or your dependents. Your premiums are decided on this information, so be clear and open while furnishing it. If there is nothing that you�ve concealed, there�s nothing that can be held against you and the insurer will have to pay your sum assured.

2. Pay your premiums on time.

   Insurers will only settle claims on active insurance policies. There is an astonishing number of people who do not understand that delaying premium payments result in lapsed policies. Once your policy lapses, you are no longer covered and all your premiums paid that far will be rendered useless. The premiums will neither be returned to you nor will they have any legal validity to ensure that you or your dependents get your sum assured or death benefit from the company. In some cases, delaying your payments could also lead to penalty charges and reinstatement charges. Also, if you have a clean track history of making premium payments, the insurer will have one less point to haggle over when it comes time for a settlement.

3. Update nominee information.

   Your named nominee is the person who will receive any and all benefits that come out of your insurance policy when the time comes. If you�re single, naming your parents as nominees would be the sensible way to go. Once you�re married, name your spouse and children. Whatever your present relationship status is, always keep a nominee named so that some benefit will go to some dependent of yours somewhere. Nominees are generally those whose livelihoods are directly dependant on you being alive and well.

4. Don�t delay in filing insurance claims.

   It may be the last thing on your mind in a medical emergency, but a quick call to your insurance company could spell the difference between having or losing insurance cover. It�s a good idea to give a trusted friend, colleague or relative your emergency insurance information to call and intimate the insurance company in case you are unable to do so yourself. Basically, the life insurance company needs to be kept posted about the events for which they will be held financially liable later. The sooner you intimate the company about whatever has happened that requires medical attention, the easier your claim processing will be. Insurers also consider delays in intimation of hospitalization as indicators of potential fraud. Timely intimation can also keep you clear of this accusation.

5. Fill out your insurance application form yourself.

   Do not trust that well dressed, constantly smiling, and question-avoiding insurance agent with the responsibility of filling out your forms. Insurers decide your premium payment amount, overall coverage, and even some exclusions based on what�s filled out in your forms. Merely telling the insurance agent everything about your medical history will not qualify him to understand and explain on the form the more difficult intricacies of your medical history. You will need to take the time out of your day and get your records in order and truthfully fill out all the details in the forms by yourself. No one knows you better than you, and you need to make sure the insurance provider knows, too. Withholding tobacco and alcohol consumption habits will be a problem if the reason you�re hospitalized can be traced back to alcohol or tobacco consumption. Agents fill forms fast to meet sales targets, and couldn�t care less what becomes of you in the future. Is that a person you want to trust with potentially huge amounts of money that could become due to your dependants in their most dire times of need?

Keep yourself informed and abreast of all developments with your insurer. Keep yourself informed about the details in your policy document. Stay diligent and well informed about the conditions under which you will be eligible for a claim. Life insurance is not just a tax saving tool, it�s a serious financial product which, if used correctly, can be a saving grace for your family and dependants.

Top 10 Factors Affecting Life Insurance Premium Costs

Top 10 Factors Affecting Life Insurance Premium Costs: A great way to help and protect your loved ones, is with Life Insurance which can be a huge investment as well. A lower premium paid can yield to a good amount of savings over a period of few years. Life insurance premiums are based on a number of factors, and it can be quite tedious for a few people to understand why and what the charges are, and why they pay a rate that may not be the same as another. There are some factors that many insurance companies consider when pricing their policies, there factor may not be within your control. But the life choices you make, can also lead to the factors that can affect your Life Insurance premium.

The factors that affect your premium towards Life Insurance are:

1. Age: This is an obvious and not surprising factor that affects your Life Insurance premium, the age of the policyholder. If you�re young the rates will be lower in comparison to someone older. The possibility of a young individual contracting a life threatening disease or to pass away in their youth is very unlikely. The insurance companies believe that you�ll make many premium payments before they have to write a cheque for your family.
2. Gender: Insurance companies aren�t against gender equality, but they believe there is a different life expectancy for different genders. As per the studies and statistical findings, women are believed to live 5 years more than men at the minimum. Therefore affecting the premium they pay, making them pay the premium for a larger period of time but at lower rate which is a plus point for the women.
3. Smoking: Smoking puts the policyholders at higher risk of all ailments, so if you�re a smoker that that�s as good as raising a red flag to the insurance companies. Most smokers pay a premium twice as much as non - smoker does, thus affecting the premium to a huge extent.
4. Medical history: There�s isn�t much one can do with the gene pool they come from. If a policyholder has a medical history of serious illnesses like cancer, heart diseases, or any other, then that makes them susceptible to get these from a hereditary perspective. Which increases the individual�s premium by a larger margin than if their gene pool wasn�t.
5. Health records: You as the policyholder will also need to provide your own health records. These records will ensure that you don�t have any chronic diseases or potential health issues and keep your premium also in check instead of making a difference to it.
6. Drinking: Drinking of alcohol is injurious to health in more ways than one. If you as the policyholder are a heavy consumer of alcohol this can affect your premium at higher insurance rates. Insurance companies ensure to ask the applicant if they are smokers or drinkers.
7. The Policy: The policy itself also affects the premium you pay, the longer the tenure of the policy the larger the amount of the benefit at the time of death, since you�re paying it for that period of time. Short term policies are more expensive that long term.
8. Profession: Your profession also plays an important role in the premium you end up paying, any policyholder working in the mining industry, oil and gas, fisheries or any other dangerous profession increases the premium amounts you pay for the policy you decide to take.
9. Lifestyles choices: Many insurers have a higher premium for people who love to takes risks for the thrill of it. Like speeding cars, climbing treacherous mountains or other high risk activities. Thereby increasing your premium to substantially more than other.
10. Obesity: Obesity is another factor that affects your premium as a policyholder, being obese can lead to a number of health problems like Osteoarthritis, High Blood Pressure, Cancer, Stroke, Coronary Heart Disease, causing overall health problems in the future and also increases your rates.

How these factors affect your rates of premium is dependent on the insurance company and the way they treat these factors and the combination of them. For example: having a history of cancer in your family and still being a smoker can affect your rate in more than one way or being obese and having a history of heart disease also affects your rates of premium. Every insurance policy is based on each individual and premiums are calculated on the insurance company's rules of rating.